David Reichman - Apr 5, 2023 Form 4/A - Amendment Insider Report for GLOBAL TECH INDUSTRIES GROUP, INC. (GTII)

Signature
/s/ David Reichman
Stock symbol
GTII
Transactions as of
Apr 5, 2023
Transactions value $
-$53,569
Form type
4/A - Amendment
Date filed
5/9/2023, 07:56 PM
Date Of Original Report
Apr 12, 2023
Previous filing
Mar 30, 2023
Next filing
Jun 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTII Common Stock Sale -$53.6K -32.4K -0.05% $1.66 59.9M Apr 5, 2023 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On April 11, 2023, the reporting person filed a Form 4 which inadvertently reported a "Deemed Execution Date", under column 2A.
F2 On April 11, 2023, the reporting person filed a Form 4 which also inadvertently reported the incorrect "Transaction Code", under column 3. Furthermore, the transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan, which was adopted by the reporting person on June 23, 2022.
F3 On April 11, 2023, the reporting person filed a Form 4 which also inadvertently reported an inaccurate number of shares of common stock beneficially owned by the reporting person. In fact, as reported in this amendment, the reporting person owned an additional 21,288,187 shares of common stock.